ACMA-Howden India focus on cybersecurity in automotive industry

The Automotive Component Manufacturers Association of India (ACMA) and Howden India organized the first "National Conference & Display on Automotive Cyber Security - Risks & Safeguard". The conference aimed to bring attention to emerging cyber risks and trends in the automotive industry and emphasized the need for cyber insurance as a supplement to existing cyber security measures.

The event featured notable speakers across three technical sessions covering topics such as cyber security trends, emerging risks, mitigation, legal and regulatory impacts, and insurance solutions like cyber insurance, product liability, and recall insurance. With the growing digitalization in the industry and increasing usage of IoT devices and sensors, there is a pressing need to protect automotive organizations from potential cyber threats.

The conference provided insights on future cyber trends and the impact of cyber security breaches on legal and regulatory aspects.

“As India increasingly becomes a significant player in global manufacturing, we anticipate a surge in technology adoption and digitalization in the domestic automotive manufacturing sector. As a consequence, cybersecurity risks will also escalate rapidly, underscoring the need for a forum where ACMA members, IT service providers, Cyber insurance specialists, and the wider automotive industry can come together to examine current threats and discuss effective strategies to mitigate them. ACMA is committed to facilitating the necessary digital transformation through such initiatives that help automotive entities safeguard themselves holistically”, stated Vinnie Mehta, Director General, ACMA, elaborating on the objective behind the conference.  

Amit Agrawal, Managing Director, Howden India further added, “As automotive firms pursue digital transformation initiatives, malicious entities will inevitably target their systems and will try to disrupt the functioning of business, necessitating a comprehensive cyber insurance cover. At Howden India, we believe that manufacturers ought to secure themselves against any financial impairments resulting from a cyber-attack, even when they fortify their systems with advanced cyber security measures.”